India’s demand for credit is vast, yet a significant portion of the population lacks formal credit access. For example, in the MSME sector, only 14% of businesses have access to formal credit mechanisms. The challenges in assessing borrowers’ creditworthiness are one of the main reasons for this. This stems from a lack of transparency and […]
Lenders face several challenges concerning the credit risk management process. Some of these include inadequate data quality, lack of skilled underwriting personnel, lack of data security, lack of inclusive risk assessment strategies, and poor compliance monitoring frameworks. These multiple challenges converge into one major challenge – the inability to appraise potential borrowers’ creditworthiness accurately. In […]
You do not need a microscope to observe how quickly things are changing in the Indian financial ecosystem. The rapid technology penetration, the country’s socioeconomic conditions, and government support have formed a formidable partnership to usher in a more digital and inclusive financial era. It is no secret that this seismic shift from dated and […]
The bank statement analysis process is crucial for individuals, businesses, and financial institutions alike, as it provides insight into financial transactions, cash flow, and other aspects of financial stability. In spite of offering innumerable benefits, automated bank statement analysis is yet to become the preferred choice for many financial institutions which still prefer manual bank […]
In today’s constantly changing financial landscape, startups are faced with the challenge of staying ahead of the competition. 90% of companies fail, underlining the necessity for innovative strategies to survive and succeed in the market. The use of sophisticated analytics tools has become a potent strategy for fostering innovation and achieving a competitive edge. A […]
Digital lending is expected to see a 4.75X boom in India. The digital lending market is projected to grow from $270 billion in 2022 to $ 1.3 trillion in 2030. By 2030, digital lending is also projected to make up 60% of the entire Indian fintech market. A key reason for this boom is lenders’ […]
Precisa is a cloud-based bank statement analyser with intelligent automation designed for decision-makers in the lending, insurance, wealth management, and personal finance industries. It can help reduce NPAs, create risk profiles, and make smart lending decisions with features like: 1. All Bank Accounts Analysis In addition to providing analysis at an individual bank account level, […]
Precisa’s bank statement analyser is a cloud-based analytics solution with smart automation designed for decision-makers in lending, insurance, wealth management, and personal finance. Bank statements are good indicators of a business’s or individual’s income, expenses, and spending patterns. Analysing the data from bank statements gives a reliable picture of the applicant’s current performance and future […]
Precisa’s Bank Statement Analyser is an effective tool for classifying, verifying, and analysing bank statements to uncover abnormalities or manipulations. Our analyser produces the most accurate results, improving your credit appraisal quality. Fintech firms can use the bank statement analyser to monitor their performance and evaluate their clients’ business positions. This handy tool provides many […]
The account aggregator framework allows financial institutions to share data. These institutions – banks, mutual fund companies, insurance companies, and pension funds – store customer financial data required by lenders, wealth managers, insurers, and personal finance managers. Using an account aggregator is a great option if you’re looking for a way to speed up your […]
